adesso acquires majority stake in e-business
IT service provider expanding its e-commerce portfolio
Dortmund, 30 March 2012 – adesso AG is to complement its existing portfolio by acquiring a majority stake in e-business expert ARITHNEA, which specialises in developing e-commerce and content management solutions and recorded sales revenues of EUR 10 million last financial year.
By acquiring a 51 % stake in ARITHNEA GmbH, adesso AG is to expand its portfolio to encompass consultancy and implementation services for e-commerce solutions, as well as increasing its activities related to content management systems. In the last financial year, ARITHNEA recorded sales revenues of EUR 10 million (previous year: EUR 6 million) and earnings before taxes of EUR 1.4 million. The company is debt-free and has a sound balance sheet structure and liquidity situation. It employs over 100 people, who work at the company HQ in Neubiberg, near Munich, and in its Berlin, Bremen and Stuttgart offices.
adesso will acquire the shares from the company’s four shareholders, who will work with adesso to drive ARITHNEA’s expansion in additional sectors in Germany and abroad in the long term. The acquisition price was set at a low seven-figure cash sum plus a variable component which will be payable should the positive development seen so far in the current financial year be maintained.
In recent years, ARITHNEA has developed an outstanding reputation for consultancy, implementation and maintenance services around e-business applications. Founded in 2003, the company offers a combination of agency services such as design and user experience and the implementation of e-commerce platforms. ARITHNEA develops core e-business systems for major-name clients including BOSCH, EADS, Telefónica Germany and commercial broadcaster ProSiebenSat1.
“The fields in which ARITHNEA is highly successful, such the development and design of as e-commerce systems, are areas adesso does not yet cover fully with its own in-house resources”, says Dr. Rüdiger Striemer, Co-CEO of adesso AG, explaining the rationale behind the acquisition. “For this reason, the acquisition represents an ideal complement to adesso’s existing portfolio and will strengthen our market position. We are looking forward to working with the highly professional team at ARITHNEA to push ahead with our growth strategy.”
For further information on ARITHNEA, please visit www.arithnea.de.
Danielle Rietsch (Marketing / PR)
adesso is one of the leading IT service providers in the German-speaking area and focuses its consulting and software development activities on a company’s core business processes. adesso’s strategy is based on three pillars: the deep industry-specific know-how of its staff, the comprehensive expertise in technology and the application of reliable methods in software implementation projects. Following this approach, adesso develops superior IT solutions, which enhance the competitive position of a company.
adesso was founded in Dortmund in 1997 and employs more than 800 members of staff in ten offices. The share is listed on the regulated market. Some of the most important customers are Allianz, Hannover Rück, Union Investment, Westdeutsche Lotterie, Zurich Versicherung, DEVK and DAK. For additional information, please visit www.adesso.de.
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